How pivot points can help you with your trading – simple Bitcoin example

<p>Reason, why I like to use Pivot Points in my trading, is simple – they work.</p>
<p>They are in common use since 80s and to this day you can find many examples how effective they can be.</p>
<p>Bitcoin is a good example. There was a strong sell-off on June 26th. I made a short video about it here:</p>
<p><div><iframe title="Bitcoin sell-off. How could you use Pivot Points and Fibonacci (example)" width="620" height="349" src="https://www.youtube.com/embed/ljYYl2oK2O4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe></div></p>
<p>Look where price stopped. Exactly at monthly R3 line:</p>
<p><img src="http://marketsurvival.net/wp-content/uploads/2019/07/2019-07-01_bitcoin-1024×608.jpg" alt="bitcoin and monthly pivot points" class="aligncenter size-large wp-image-3409" width="750" height="445" srcset="http://marketsurvival.net/wp-content/uploads/2019/07/2019-07-01_bitcoin-1024×608.jpg 1024w, http://marketsurvival.net/wp-content/uploads/2019/07/2019-07-01_bitcoin-300×178.jpg 300w, http://marketsurvival.net/wp-content/uploads/2019/07/2019-07-01_bitcoin-768×456.jpg 768w, http://marketsurvival.net/wp-content/uploads/2019/07/2019-07-01_bitcoin-101×60.jpg 101w, http://marketsurvival.net/wp-content/uploads/2019/07/2019-07-01_bitcoin.jpg 1052w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>If you were long, this was a good place to set your take profit order.</p>
<p>Now we have July, new monthly pivot lines. Can you see how monthly pivot was a resistance for the price?</p>
<p>That’s why I think that it is a good idea to check Pivots from time to time. They can be a great help in your trading.</p>
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